CenterPoint Energy, Inc. (CNP) Shares Sold by CrestPoint Capital Management LLC

CrestPoint Capital Management LLC reduced its position in CenterPoint Energy, Inc. (NYSE:CNP) by 64.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,300 shares of the utilities provider’s stock after selling 66,600 shares during the period. CrestPoint Capital Management LLC’s holdings in CenterPoint Energy were worth $1,021,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. AXA purchased a new stake in CenterPoint Energy during the first quarter worth $3,436,000. BlackRock Inc. increased its stake in CenterPoint Energy by 1,521.6% in the first quarter. BlackRock Inc. now owns 39,034,890 shares of the utilities provider’s stock worth $1,076,193,000 after buying an additional 36,627,665 shares during the last quarter. Federated Investors Inc. PA increased its stake in CenterPoint Energy by 0.7% in the fourth quarter. Federated Investors Inc. PA now owns 20,922 shares of the utilities provider’s stock worth $516,000 after buying an additional 140 shares during the last quarter. Mn Services Vermogensbeheer B.V. increased its stake in shares of CenterPoint Energy by 5.1% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 10,912 shares of the utilities provider’s stock valued at $281,000 after buying an additional 529 shares during the last quarter. Finally, Sawtooth Solutions LLC increased its stake in shares of CenterPoint Energy by 13.1% in the first quarter. Sawtooth Solutions LLC now owns 10,003 shares of the utilities provider’s stock valued at $276,000 after buying an additional 1,162 shares during the last quarter. Institutional investors own 77.16% of the company’s stock.

CenterPoint Energy, Inc. (CNP) traded down 1.06% during midday trading on Friday, hitting $28.82. The stock had a trading volume of 2,026,145 shares. The stock has a market cap of $12.42 billion, a PE ratio of 20.59 and a beta of 0.64. CenterPoint Energy, Inc. has a 52-week low of $21.83 and a 52-week high of $29.45. The company’s 50 day moving average price is $28.00 and its 200-day moving average price is $27.68.

CenterPoint Energy (NYSE:CNP) last released its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.07. The firm had revenue of $2.14 billion during the quarter, compared to analyst estimates of $1.98 billion. CenterPoint Energy had a return on equity of 16.45% and a net margin of 6.86%. The business’s revenue for the quarter was up 36.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.17 EPS. Analysts forecast that CenterPoint Energy, Inc. will post $1.33 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Wednesday, August 16th will be given a $0.2675 dividend. This represents a $1.07 annualized dividend and a dividend yield of 3.71%. The ex-dividend date is Monday, August 14th. CenterPoint Energy’s payout ratio is 76.98%.

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Several analysts have weighed in on CNP shares. Zacks Investment Research upgraded CenterPoint Energy from a “hold” rating to a “buy” rating and set a $32.00 price objective for the company in a research report on Monday, June 5th. BidaskClub upgraded CenterPoint Energy from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, J P Morgan Chase & Co started coverage on CenterPoint Energy in a report on Thursday, June 29th. They set a “neutral” rating and a $29.00 target price for the company. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $27.33.

In related news, CEO Scott M. Prochazka sold 1,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $28.23, for a total transaction of $28,230.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last three months, insiders sold 3,000 shares of company stock valued at $84,560. Corporate insiders own 0.20% of the company’s stock.

CenterPoint Energy Company Profile

CenterPoint Energy, Inc is a public utility holding company. The Company, through its subsidiaries, owns and operates electric transmission and distribution facilities, and natural gas distribution facilities. The Electric Transmission & Distribution segment provides electric transmission and distribution services to retail electric providers.

Institutional Ownership by Quarter for CenterPoint Energy (NYSE:CNP)

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